1. Summary Information
|
|
|
Country |
|
|
Company Name |
BRIDGESTONE INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Hiromi Tanigawa |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Koichiro Mitsuyasu
|
|
|
|
Registration # |
10-150548 |
|
Street Address |
Plot No. 12, Kheda Growth Centre, Post Sagore, Pithampur,
Dist. - Dhar 454774, Madhya Pradesh, |
||
|
Established Date |
27.02.1996 |
SIC Code |
-- |
|
Telephone# |
91-7292-255021 (10 lines) / 501796/ 423333/ 423423 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-7292-255037 / 39 / 255012 |
Business Style 2 |
Purchaser |
|
Homepage |
Product Name 1 |
Radial Tyres |
|
|
# of employees |
-- |
Product Name 2 |
Inner Tubes |
|
Paid up capital |
Rs.
4,003,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holding ( 99.99%) Directors or relatives of directors (0.01%) |
Banking |
State
Bank Of |
|
Public Limited Corp. |
NO |
Business Period |
16 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Bridgestone Corporation |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,044,459,000 |
Current Liabilities |
2,187,231,000 |
|
Inventories |
1,368,499,000 |
Long-term Liabilities |
1,369,044,000 |
|
Fixed Assets |
6,248,589,000 |
Other Liabilities |
288,300,000 |
|
Deferred Assets |
-- |
Total Liabilities |
3,844,575,000 |
|
Invest& other Assets |
1,516,144,000 |
Retained Earnings |
3,330,116,000 |
|
|
|
Net Worth |
7,333,116,000 |
|
Total Assets |
11,177,691,000 |
Total Liab. & Equity |
11,177,691,000 |
|
Total Assets (Previous Year) |
6,533,459,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
11,384,475,000 |
Net Profit |
1,205,950,000 |
|
Sales(Previous yr) |
8,505,011,000 |
Net Profit(Prev.yr) |
840,505,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
BRIDGESTONE INDIA PRIVATE LIMITED (W.E.F. 03.03.2003) |
|
|
|
|
Formerly Known As : |
BRIDGESTONE ACC INDIA LIMITED |
|
|
|
|
Registered Office : |
Plot No.12, Kheda Growth Centre Post, Sagore Pitampur, Dhar – 454774,
Madhya Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
27.02.1996 |
|
|
|
|
Com. Reg. No.: |
10-150548 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.4003.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25111MP1996PTC0150548 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLB00992F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCB2304E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing, Purchasing, Selling, Importing, Exporting and Dealing of Tyres, Tubes Flaps and Other Rubber Goods. |
|
|
|
|
No. of Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 29332464 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company and has improved it’s performance
in recent past. It has wiped out it’s previous losses. It’s payments are
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office / Head Office and Plant : |
Plot No. 12, Kheda Growth Centre, Post Sagore, Pithampur,
Dist. - Dhar 454774, Madhya Pradesh, |
|
Tel. No.: |
91-7292-255021 (10 lines) / 501796/ 423333/ 423423 |
|
Fax No.: |
91-7292-255037 / 39 / 255012 |
|
E Mail: |
|
|
Website : |
|
|
|
|
|
Sales and Marketing Head Office : |
Plot No. 5/4, 5th Floor, Shalimar Onyx ( |
|
Tel. No.: |
91-22-43496400 |
|
Fax No.: |
91-22-42496460/
28563426 |
|
E-Mail : |
DIRECTORS
AS ON 06.04.2011
|
Name : |
Mr. Hiromi Tanigawa |
|
Designation : |
Managing Director |
|
Address : |
A 80 A 93, Near MITM College, Vilage Pigdambar Post, Rau,
Indore-453331, Madhya Pradesh, India |
|
Date of Birth/Age : |
20.08.1961 |
|
Date of Appointment : |
24.10.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Managing director |
24/10/2008 |
24/10/2008 |
- |
Active |
NO |
|
Name : |
Mr. Hidenori Wakamatsu |
|
Designation : |
Whole Time Director |
|
Address : |
BSID, Residential Complex, Sunshine, SLOPE Colony, |
|
Date of Birth/Age : |
26.01.1953 |
|
Date of Appointment : |
20.06.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Whole-time director |
20/06/2008 |
20/06/2008 |
31/08/2011 |
Active |
NO |
|
Name : |
Mr. Koichiro
Mitsuyasu |
|
Designation : |
Whole Time
Director |
|
Address : |
BSID Residential
Complex, Sunshine Shopes, |
|
Date of Birth/Age : |
10.01.1948 |
|
Date of Appointment : |
19.03.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Whole-time director |
19/03/2009 |
12/03/2003 |
20/02/2011 |
Active |
NO |
|
Name : |
Mr. Hidenoubu Mori |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
14.06.1962 |
|
Date of Appointment : |
14.03.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Whole-time director |
14/03/2009 |
14/03/2009 |
- |
Active |
NO |
|
Name : |
Mr. Ajay Sevekari |
|
Designation : |
Whole Time Director |
|
Address : |
103, Princess, Landmark, Plot 21/12 Ratlam, Kothy, Indore-452001, |
|
Date of Birth/Age : |
08.05.1963 |
|
Date of Appointment : |
01.04.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Whole-time director |
01/04/2008 |
01/04/2008 |
- |
Active |
NO |
|
Name : |
Mr. Tomomichi Okada |
|
Designation : |
Whole Time Director |
|
Address : |
A-80, , A 93, Near MITM College, Vilage Pigdambar Post, Rau,
Indore-453331, Madhya Pradesh, India |
|
Date of Birth/Age : |
09.03.1968 |
|
Date of Appointment : |
21.02.2011 |
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25111MP1996PTC010548 |
BRIDGESTONE INDIA PRIVATE
LIMITED |
Whole-time director |
21/02/2011 |
21/02/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mrs. Abha Jaiswal |
|
Designation : |
Secretary |
|
Address : |
132 Mahavir Nagar, |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.08.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.04.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bridgestone
Corporation, |
|
400300000 |
|
Bridgestone
Asia Pacific Pte Limited, Singapore |
|
80000000 |
|
Total |
|
480300000 |
AS ON 06.04.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Purchasing, Selling, Importing, Exporting and Dealing of Tyres, Tubes Flaps and Other Rubber Goods. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.12.2009)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
Nos. |
6.0 Millions |
3868669 |
|
Tube |
Nos. |
4.0 Millions |
1940710 |
GENERAL INFORMATION
|
Bankers : |
State Bank of India, Commercial Branch, A.B. Road, Indore-452001, Madhya Pradesh, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte
Haskins and Sells Chartered
Accountants |
|
Address : |
13, |
|
Tel. No.: |
91-22-22854330
/ 66679000 |
|
Fax No.: |
91-22-22024499/
22024337 / 66679025 |
|
|
|
|
Holding Company: |
Bridgestone Corporation |
|
|
|
|
Fellow Subsidiaries: |
·
Bridgestone Corporation ·
Bridgestone Plant Engineering Co. Limited ·
Bridgestone Americas Holding, Inc. ·
Bridgestone Technical Centre Europe S.P.A. ·
Bridgestone Asia Pacific Pte Limited ·
Bridgestone Logistics Co. Limited ·
Bridgestone (Huizhou) Synthetic Co. Limited ·
Bridgestone(Hui Zhou) Tire Co. Limited ·
P.T. Bridgestone Tire Indonesia ·
Thai Bridgestone Co Limited ·
Bridgestone Seoul ·
Bridgestone Metalpha Thai ·
Bridgestone South Africa ·
Bridgestone Australia Limited ·
Bridgestone New Zealand Limited ·
Bridgestone Tire Manufacturing Thailand · Bridgestone Taiwan Co. Limited |
CAPITAL STRUCTURE
AS ON 24.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1775300000 |
Equity shares |
Rs.10/- each |
Rs.17753.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400300000 |
Equity shares |
Rs.10/- each |
Rs.4003.000 Millions |
Note:
- All the above Equity Shares of Rs. 10/- each fully paid up are held by
Bridgestone Corporation,
- Of the above 120100000 Equity Shares of Rs. 10/- each were issued at
par to Bridgestone Corporation,
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4003.000 |
2753.000 |
2753.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.0000 |
|
|
3] Reserves & Surplus |
3330.116 |
1374.166 |
533.661 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7333.116 |
4127.166 |
3286.661 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
187.282 |
0.000 |
113.168 |
|
|
2] Unsecured Loans |
1181.762 |
732.496 |
1256.692 |
|
|
TOTAL BORROWING |
1369.044 |
732.496 |
1369.860 |
|
|
DEFERRED TAX LIABILITIES |
288.300 |
212.700 |
156.000 |
|
|
|
|
|
|
|
|
TOTAL |
8990.460 |
5072.362 |
4812.521 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6248.589 |
4288.763 |
2722.756 |
|
|
Capital work-in-progress |
1516.144 |
93.705 |
854.856 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1368.499
|
1002.315
|
1554.207
|
|
|
Sundry Debtors |
1181.813
|
874.491
|
652.644
|
|
|
Cash & Bank Balances |
659.195
|
172.978
|
5.681
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
203.451
|
101.207
|
303.979
|
|
Total
Current Assets |
3412.958
|
2150.991
|
2516.511
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1422.495
|
968.043
|
820.450 |
|
|
Other Current Liabilities |
546.707
|
346.029
|
258.943
|
|
|
Provisions |
218.029
|
147.025
|
202.209
|
|
Total
Current Liabilities |
2187.231
|
1461.097
|
1281.602
|
|
|
Net Current Assets |
1225.727
|
689.894
|
1234.909
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8990.460 |
5072.362 |
4812.521 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
8505.011 |
7129.949 |
|
|
|
Other Income |
|
100.856 |
60.910 |
|
|
|
TOTAL (A) |
11384.475 |
8605.867 |
7190.859 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
7324.460 |
5809.534 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
1381.325 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
90.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
1290.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
382.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1853.005 |
1281.407 |
907.667 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
647.055 |
440.902 |
343.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1205.950 |
840.505 |
563.786 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
533.661 |
(30.125) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1374.166 |
533.661 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods Exported |
3.147 |
2.980 |
0.885 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2348.621 |
1426.686 |
1647.328 |
|
|
|
Components and Spare Parts |
49.981 |
43.964 |
27.195 |
|
|
|
Capital Goods |
937.029 |
726.332 |
505.065 |
|
|
TOTAL IMPORTS |
3335.631 |
2196.982 |
2179.588 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
10.59
|
9.76
|
7.84
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
15.06
|
12.73
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.18
|
19.89
|
17.32
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.31
|
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.48
|
0.53
|
0.81
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.47
|
1.96
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT:
During
the year, the net sales and other income increased to Rs. 11500.338 Millions
from Rs.79,69.680 Millions in the previous year yielding a growth of 44%. The net profit after tax increased to
Rs. 1205.950 Millions from Rs.840.505 Millions in the previous year yielding a
growth of 43%.
During
the year, the Company sold (inclusive of traded tyres and tubes) a total of
49,14,361 tyres and 19,93,122 tubes and flaps against 40,73,194 tyres and
20,58,798 tubes sold in the previous year, showing growth of approx 20.65% in
tyres.
The
total production during the year was 49,11,206 tyres and 19,66,584 tubes as
against 38,68,669 tyres and 19,40,710 tubes manufactured in the previous year,
showing growth of approx 27% in tyres. Purchase of traded goods during the year
including tyres, tubes and flaps were 98,861 as compared to 62,161 in the
previous year.
Bankers Charges
Report as per Registry
|
Name of the company |
BRIDGESTONE INDIA
PRIVATE LIMITED |
||||||||||||||
|
Presented By |
Mr. K G Shenoy
and MR. K Mitsuvasu Directors of the
company (Name and
designation of the official of the Company) |
||||||||||||||
|
1) Date and description of instrument creating the change |
Deed of recital
deposit dated 28.08.2003 |
||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.350.000
millions |
||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The amount stated
in (2) above is secured by equitable mortgage of the immovable property of
the company created by deposit of title deeds relating to several landed
properties of the borrower together with all assets permanently fixed to the
lands and building and plant and machinery a pertaining to or on part basis
with State Bank of India, industrial Finance Branch, Indore. |
||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The amount in
column (2) is secured by the borrower by hypothecation of the goods/ items
mentioned in column (3) for the amounts outstanding. Rate of interest: Medium term PLR
based on IRS with monthly rests or any such rates as may be specified by the
Bank from time to time Repayment: Bullet repayment
on maturity The mortgage property
shall also secure the following amounts: In respect of
State Bank of
|
||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Address: “Jeevan Prakash:” Sir PM Road, Fort, Mumbai – 400 001 |
||||||||||||||
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90208286 |
|
Corporate
identity number of the company |
U25111MP1996PTC0150548 |
|
Name of the
company |
BRIDGESTONE INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 12, Kheda Growth Centre, Post Sagore, Pithampur,
Dist. - Dhar 454774, Madhya Pradesh, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Form C.5 – Letter
Regarding The Grant of Individual Limits within the overall limit |
|
Date of
instrument Creating the charge |
30.03.2009 |
|
Amount secured by
the charge |
Rs. 300.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.5% Below SBAR
with Monthly rest or as may be specified by the bank form time to time at
present 12.25% Terms of
Repayment As per agreement
dated 11.09.1998 and Further modified form time to time Margin Raw Material –
25% Stock in Progress
– 25% Finished Goods –
25% Stores – 30% Book Debts /
Receivables (Retention period of 3 months) – 30% Land and Building
/ Plant and Machinery : Nil Extent and
Operation of the charge As per agreement
Dated 11.09.1998 and further modified form time to time |
|
Short particulars
of the property charged |
Hypothecation charges in the company’s entire current assets
comprising of raw materials, stock in process, finished goods, consumable
stores, book debts/ receivables (retention period 3 months) located at
company’s plant, godowns (including C and Fs), Good in Transit |
|
Date of latest
modification prior to the present modification |
31.07.2002 |
|
Particulars of
the present modification |
Total Limit Rs.
300.000 Millions Divided into Fund Based Limit:
CC (Hypothecation) WCDL Reduced from Rs. 350.000 Millions to Rs. 250.000
Millions Non Fund Based:
Limits : LC limit (BG Sub Limit (Within LC) Rs. 12.500 Millions) remained
unchanged Rs. 50.000 Millions Security : Limit
securd on company’s entire current assets comprising of raw materials, stock
in process, finished goods, stores, B/D, Receivables etc. on pari passu basis
with other 1st charge holder Charge on fixed
asset was released. |
FIXED ASSETS:
· Land
- Leasehold
- Freehold
- Building
· Plant and Machinery
· Office equipment
· Furniture and fixtures
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.46 |
|
|
1 |
Rs.74.95 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.